Minnesota Rep. Michele Bachmann is considering running for the Republican nomination for president in 2012, ABC News reported Wednesday.

The third-term lawmaker, who formed the Tea Party Caucus last year, is making her third trip to Iowa in eight months. She will seek advice from local party leaders, as well as speak at a Jan. 21 fundraiser for the Iowans for Tax Relief political action committee.

Should she run, Bachmann would join a field of candidates that could include four former governors — Mike Huckabee (Ark.), Sarah Palin (Alaska), Tim Pawlenty (Minn.) and Mitt Romney (Mass.) — as well as Sen. John Thune (S.D.), Rep. Mike Pence (Ind.) and former Speaker Newt Gingrich (Ga.), all of whom are rumored to be weighing bids.